The cast of Modern Family has dropped their lawsuit against the studio after reaching an agreement that gives the lead stars a significant increase in their per episode pay, Extra reports. For the fourth season of the hilarious sitcom, the leads, Julie Bowen, Ty Burrell, Jesse Tyler Ferguson, Eric Stonestreet and Sofia Vergara will each make close to $150,000 an episode. That's almost $100k more than their last season salaries of $65,000 an episode.

In addition to the pay increase, the stars of our fav TV comedy have added an additional year onto their 7 year contracts and by season 8 their paychecks should be about $350,000 per episode. WOWZERS!! That's a LOT of cash!

Modern Family co-creator Steve Levitan couldn't be happier, telling The Hollywood Reporter, "It's no surprise, but I'm of course thrilled and I cannot wait to get on stage Monday morning and start making the show again. It'll feel great, I'm sure everybody is going to be very relieved and I hope that it's the beginning of a great season. I feel really good about it. I'm very happy for my friends on the cast for their success. I really am."